Archer Investment Corp Cuts Position in NIKE, Inc. (NYSE:NKE)

Archer Investment Corp trimmed its position in NIKE, Inc. (NYSE:NKE) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,897 shares of the footwear maker’s stock after selling 171 shares during the quarter. Archer Investment Corp’s holdings in NIKE were worth $640,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NKE. Vestcor Inc lifted its position in shares of NIKE by 0.3% in the fourth quarter. Vestcor Inc now owns 29,977 shares of the footwear maker’s stock worth $3,508,000 after buying an additional 81 shares during the last quarter. Excalibur Management Corp lifted its position in shares of NIKE by 1.9% in the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after buying an additional 98 shares during the last quarter. M Holdings Securities Inc. lifted its position in shares of NIKE by 2.7% in the first quarter. M Holdings Securities Inc. now owns 3,775 shares of the footwear maker’s stock worth $463,000 after buying an additional 100 shares during the last quarter. Bond & Devick Financial Network Inc. lifted its position in shares of NIKE by 1.3% in the third quarter. Bond & Devick Financial Network Inc. now owns 7,540 shares of the footwear maker’s stock worth $721,000 after buying an additional 100 shares during the last quarter. Finally, Baxter Bros Inc. lifted its position in shares of NIKE by 2.0% in the third quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock worth $482,000 after buying an additional 100 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 1.1 %

NYSE:NKE traded up $1.01 during trading hours on Wednesday, hitting $94.40. 7,041,820 shares of the stock were exchanged, compared to its average volume of 9,540,082. The company’s 50 day moving average is $98.65 and its two-hundred day moving average is $103.48. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $142.48 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NKE. JPMorgan Chase & Co. cut their price objective on NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, December 22nd. Wedbush reissued an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research report on Wednesday, March 27th. TheStreet cut NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Williams Trading reissued a “sell” rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price objective (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.